"As recently as five years ago, environmental, social, and governance (ESG) investing was pitched as a market revolution-led by idealistic young investors and destined to reinvent investing. Five years and a few economic shocks later, the revolution looks more like a recalibration-but that doesn't mean ESG has disappeared. Our research finds that enthusiasm hasn't vanished; it has converged on a more pragmatic, risk-first approach."
"Our research finds that enthusiasm hasn't vanished; it has converged on a more pragmatic, risk-first approach."
Five years ago ESG investing was presented as a market revolution led by idealistic young investors and destined to transform investing. Subsequent economic shocks have tempered that rhetoric, turning the idea of revolution into a recalibration. ESG has not disappeared; interest and enthusiasm remain. That enthusiasm has shifted toward a pragmatic, risk-first approach that emphasizes managing downside and integrating ESG considerations into traditional investment risk frameworks. The movement now centers on practical risk management and realistic deployment of ESG principles within mainstream investing rather than sweeping, transformative change.
Read at Harvard Business Review
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